By Jade Markus, Commodity News Service Canada
WINNIPEG, October 19 – ICE Canada canola contracts were higher on Wednesday, propped up by advances in the Chicago Board of Trade soy oil market.
Soy oil gained, underpinned by overnight strength in the Malaysian palm oil market.
Cold and wet weather in Western Canada continues to underpin the market.
Traders say canola’s technical bias remains to the upside, which added to the gains.
The Canadian dollar was mostly unchanged against its US counterpart in early activity on Wednesday.
About 7,109 canola contracts had traded as of 8:46 CDT.
Milling wheat, durum, and barley futures were all untraded and unchanged.
